I’ve been lucky enough to work with thousands of investors, and something that I’ve noticed is that all successful investors have one thing in common: a growth mindset. This means they have a willingness to learn and an understanding that they have room to grow. It might sound counterintuitive, but the willingness to fail can actually help you succeed.

On the opposite end of the spectrum is the “know-it-all.” The person who is locked into a fixed mindset. They think they have all the answers, and they can’t be convinced differently. I really believe this is the difference between a successful an unsuccessful individual.

If you listen to the stories of successful entrepreneurs and investors, you’ll notice an underlying theme: failure! Any person who has reached a level of success has failed at some point. Failure helps us succeed because it often teaches us a lesson. In fact, if you want to hear about my personal failures in real estate, you should check out this podcast episode!

But if you’re a know-it-all, you might not ever give yourself the opportunity to fail. How can you grow a real estate portfolio if you’re held back by the fear of a vacancy or eviction? It’s simply not possible. If you want to succeed, you have to be open to learning